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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
___________________________
SCHEDULE 13G
Under the Securities Exchange Act of 1934
Pizza Inn, Inc.
(Name of Issuer)
Common Stock, $.01 par value
(Title of Class of Securities)
725848 10 5
(CUSIP Number)
December 6, 2002
(Date of Event which Requires Filing of this Statement)
Check the appropriate box to designate the rule pursuant to which this
Schedule is filed:
[x] Rule 13d-1(b)
[ ] Rule 13d-1(c)
[ ] Rule 13d-1(d)
* The remainder of this coverage page shall be filled out for a reporting
person's initial filing on this form with respect to the subject class of
securities, and for any subsequent amendment containing information which
would alter the disclosures provided in a prior cover page.
The information required in the remainder of this cover page shall not be
deemed to be "filed" for the purpose of Section 18 of the Securities
Exchange Act of 1934 ("Act") or otherwise subject to the liabilities of that
section of the Act, but shall be subject to all other provisions of the Act
(however, see the Notes).
13G
CUSIP NO. 752848 10 5
1) NAME OF REPORTING PERSON
I.R.S. IDENTIFICATION NUMBER OF ABOVE PERSON (ENTITIES ONLY)
Wells Fargo & Company
Tax Identification No. 41-0449260
2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [ ]
(b) [ ]
3) SEC USE ONLY
4) CITIZENSHIP OR PLACE OF ORGANIZATION
United States
NUMBER OF (5) SOLE VOTING POWER
SHARES 3,239(1)
BENEFICIALLY (6) SHARED VOTING POWER
OWNED BY 0
EACH (7) SOLE DISPOSITIVE POWER
REPORTING 0
PERSON (8) SHARED DISPOSITIVE POWER
WITH 0
9) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
3,239(1)
10) CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN
SHARES
11) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)(2)
Less than 5%
12) TYPE OF REPORTING PERSON
HC
(1) Shares are held in customer or fiduciary accounts in the ordinary
course of business by Wells Fargo Bank Minnesota, National Association,
an indirectly wholly owned subsidiary of Wells Fargo & Company.
13G
CUSIP NO. 752848 10 5
1) NAME OF REPORTING PERSON
I.R.S. IDENTIFICATION NUMBER OF ABOVE PERSON (ENTITIES ONLY)
Wells Fargo Bank Texas, N.A.
Tax Identification No. 75-0403318
2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [ ]
(b) [ ]
3) SEC USE ONLY
4) CITIZENSHIP OR PLACE OF ORGANIZATION
United States
NUMBER OF (5) SOLE VOTING POWER
SHARES 0
BENEFICIALLY (6) SHARED VOTING POWER
OWNED BY 0
EACH (7) SOLE DISPOSITIVE POWER
REPORTING 0
PERSON (8) SHARED DISPOSITIVE POWER
WITH 0
9) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
0
10) CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN
SHARES
11) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)(1)
Less than 5%
12) TYPE OF REPORTING PERSON
BK
13G
CUSIP NO. 752848 10 5
Disclaimer: Information in this Schedule 13G is provided solely for
the purpose of complying with Sections 13(d) and 13(g) of
the Act and regulations promulgated thereunder, and is not
to be construed as an admission that Wells Fargo & Company
or any of its subsidiaries is the beneficial owner of the
securities covered by this Schedule 13G for any purpose
whatsoever.
Item 1(a). Name of Issuer.
Pizza Inn, Inc.
Item 1(b). Address of Issuer's Principal Executive Offices.
3551 Plano Parkway
The Colony, Texas 75056
Item 2(a) . Names of Person Filing.
Wells Fargo & Company
Wells Fargo Bank Texas, N.A.
Item 2(b). Address or Principal Business Office or, if none,
Residence.
Wells Fargo & Company
420 Montgomery Street
San Francisco, CA 94104
Wells Fargo Bank Texas, N.A.
1445 Ross Avenue, Suite 400
Dallas, Texas 75202.
Item 2(c). Citizenship.
Wells Fargo & Company is a Delaware corporation
Wells Fargo Bank Texas, N.A. is a national banking
association.
Item 2(d). Title of Class of Securities.
Common Stock, par value $.01 per share.
Item 2(e). CUSIP Number.
725848 10 5
13G
CUSIP NO. 752848 10 5
Item 3. If This Statement is Filed Pursuant to Rule 13d-1(b), or
13d-2(b) or (c), Check Whether the Person Filing is a:
Wells Fargo & Company: A parent holding company or
control person in accordance
with section 240.13d-
1(b)(1)(ii)(G);
Wells Fargo Bank Texas, N.A.: Bank as defined in
section 3(a)(6)of the Act
(15 U.S.C. 78c);
Item 4. Ownership.
Provide the following information regarding the aggregate
number and percentage of the class of securities of the
issuer identified in Item 1:
(a) Amount beneficially owned by the Reporting Person:
Wells Fargo & Company: 3,329 shares of Common Stock
(as of the date of filing), which shares are held in
customer or fiduciary accounts in the ordinary course of
business by Wells Fargo Bank Minnesota, N.A., an
indirectly wholly owned subsidiary of Wells Fargo &
Company.
Wells Fargo Bank Texas, N.A.("WFB Texas"): 0 shares of
Common Stock (as of the date of filing).*
* WFB Texas acquired 2,905,000 shares of Common Stock when it gave
notice to an insider of the Issuer of WFB Texas' intent to
exercise voting rights and dispose of shares of the Issuer
pledged by such insider to WFB Texas. The obligation to WFB
Texas secured by the pledge of shares was discharged in full on
December 6, 2002, and WFB Texas subsequently released its
pledged interest in such shares.
13G
CUSIP NO. 752848 10 5
(b) Percent of class held: Less than 5%
(c) Number of shares as to which each Reporting Person
has:
(i) Sole power to vote or direct the vote: see
Item 4(a).
(ii) Shared power to vote or to direct the vote: none.
(iii) Sole power to dispose or to direct the
disposition of: none
(iv) Shared power to dispose or to direct the
disposition of: none.
Item 5. Ownership of Five Percent or Less of a Class.
Not Applicable
Item 6. Ownership of More than Five Percent on Behalf of Another
Person.
See Item 4(a)
13G
CUSIP NO. 752848 10 5
Item 7. Identification and Classification of the Subsidiary Which
Acquired the Security Being Reported on by the Parent
Holding Company or Control Person.
See Attachment A.
Item 8. Identification and Classification of Members of the Group.
Not applicable.
Item 9. Notice of Dissolution of Group.
Not applicable.
Item 10. Certification.
By signing below I certify that, to the best of my
knowledge and belief, the securities referred to above were
acquired and are held in the ordinary course of business
and were not acquired and are not held for the purpose of
or with the effect of changing or influencing the control
of the Issue of the securities and were not acquired and
are not held in connection with or as a participant in any
transaction having that purpose or effect.
SIGNATURE
After reasonable inquiry and to the best of my knowledge and belief,
the undersigned certifies that the information set forth in this
statement is true, complete and correct.
Dated: December 12, 2002 WELLS FARGO & COMPANY
By: /s/ Laurel A. Holschuh
Name: Laurel A. Holschuh
Title: Senior Vice President
and Secretary
ATTACHMENT A
The Schedule 13G to which this attachment is appended is filed by Wells
Fargo & Company on behalf of the following subsidiaries:
Wells Fargo Bank Minnesota, N.A. (1)
Wells Fargo Bank Texas, N.A. (1)
(1) Classified as a bank in accordance with Regulation 13d-
1(b)(1)(ii)(B).
Dallas:sl12 Pizza Inn (12/6/02)-12-02.doc